designer, developer and manufacturer of digital inkjet printer systems and consumable ink cartridges

$20M Revenue

Company Overview

The Company is engaged primarily in the assembly and distribution of digital apparel printers and related supplies, including ink, for the garment decoration industry.

Engagement Overview

The Company’s flagship product was an entry level printer targeted to small garment decorators. 

The Company introduced a new product line aimed at larger/corporate accounts.  The product launch timeline was expedited as a competitor was introducing a competing product in the same timeframe. 

In the field, the Company’s product did not perform to standard and the Company implemented a voluntary upgrade program to address customer problems and to refurbish the units, which severely affected profitability and cash flow over the next two years.

The Company hired an investment bank to market the Company for sale, but the lender was concerned about their collateral position and ability to operate towards a close.

FDP prepared a financial forecast and 13-week cash flow analysis to assure the lender that the Company was solvent and their senior position was properly collateralized.

FDP continued to monitor cash flow and assisted the Company in preserving liquidity to operate while the sale process consummated.

Results

FDP was able to convince the senior secured lender to continue financing the Company during the sale period, despite poor financial performance and repeated delays of the transaction date.

FDP News

Jun - 22

Fort Dearborn advises HF Foods Group, Inc. - Sealand Food, Inc.

Fort Dearborn Partners (FDP) is pleased to announce we served as sole financial advisor to HF Foods Group, Inc. (NASDAQ:HFFG) in its transaction with Sealand Food, Inc.

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Apr - 22

Fort Dearborn advises HF Foods Group, Inc. - Great Wall Seafood

Fort Dearborn Partners (FDP) is pleased to announce we served as sole financial advisor to HF Foods Group, Inc. (NASDAQ:HFFG) in its transaction with Great Wall Seafood.

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Dec - 21

Fort Dearborn Partners advises Foodservice Provider

Fort Dearborn Partners, Inc. served as the exclusive financial advisor to an Illinois-based foodservice provider and refinanced $17,500,000 of debt.

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